Chicago Mayor Rahm Emanuel, Failed Reforms, Massive Tax Hikes

Mish's Global Economic Trend Analysis: Chicago Mayor Rahm Emanuel Reverses Course, Now in Support of Massive Tax Hikes and Non-Reforms; Approval Rating Plunges: "....That [Rahm] Emanuel failed to deliver is hardly surprising. Promises of reform are nearly always lies. Sadly, Emanuel was actually the better of the two choices in the last election. My fear is the choices in the next election will be even worse. Unless and until someone is willing and able to actually stand up to Chicago unions, more of the same kind of lies and backtracking is in store. Ultimately, Chicago's financial mess blows up in bankruptcy court, just as happened in Detroit. Certainly the city of Chicago looks better than Detroit and has far better services, pay, and demographics. Chicago is a beautiful, vibrant-appearing city. Yet, outward appearances are deceiving. beneath the surface things are not so pretty. Chicago is on the verge of bankruptcy unless there is serious pension and work-rule reform now, not four elections from now...." (read more at the link above)

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